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Part 2: Lessons from Batman

In honour of  The Dark Knight Rises, here is part 2 of our ‘Lessons from Batman’ article….. After all, Bruce Wayne is the wealthiest guy in (fictional) Gotham!

Last Week we looked at the importance of research and development.  This week we focus on branding and networking:

Branding – be recognisable

A cohesive brand is crucial to a successful enterprise, and that’s something Wayne understands better than most. All of Batman’s gadgets contain the symbol of a bat – even the famous police signal lights up the sky with his brand.

Creating an interesting logo and tagline, and putting it on everything you produce will re-enforce your brand in consumers memory.

Research shows younger shoppers aren’t able to identify advertising as clearly as they could in the past because of mixed branding messages across different media channels. A cohesive brand isn’t just to look cool – it’s to make sure you can maintain a consistent voice as a company.

A great support network

Bruce Wayne may work alone, but he has a full support network of allies giving him advice when he needs it, including butler and mentor, Alfred.

No business is an island, creating a strong network of suppliers and professional service firms will help you manage all tasks, especially the really difficult ones. Even Batman can’t fight crime alone, and neither can an entrepreneur do everything by themselves. A good support network is crucial to good business.

Posted on 24 July '12 by , under Business.

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Transition to retirement

The transition to retirement (TTR) strategy allows you to access some of your super while you continue to work.

You are able to use the TTR strategy if you are aged 55 to 60. You can use it to supplement your income if you reduce your work hours or boost your super and save on tax while you keep working full time.

  • Starting a TTR pension: To start your TTR pension, transfer some of your super to an account-based pension. You have to keep some money in your super account so that you can continue to receive your employer's compulsory contributions as well as any voluntary contributions you may be making.
  • Government benefits and TTR: The benefits you or your partner receive might be impacted if you choose to opt for this strategy. How and what exactly will change might become clearer upon discussing this with a Financial Information Service (FIS) officer.
  • Life insurance and TTR: In some cases, the life insurance cover you have with your super may stop or reduce if you start a TTR pension – check this before making any decisions or changes.

TTR can help ease your mind as you transition into retirement but it can be a bit complex. Before you choose whether you want to use TTR to reduce work hours or save on tax, or even if you want to use TTR altogether, you should figure out how this will impact all aspects of your finances.

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